Photo - FIN-PAY Technology
50577

FIN-PAY Technology

Accept payments, anywhere.

Australia
Market: Financial services
Stage of the project: Operating business

Date of last change: 16.12.2020
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Idea

We believe that payment acceptance should be simple, frictionless and effortless for merchants anywhere in the world.

Our mission is to provide the most agile global payment infrastructure in the world.

Current Status

8 master license agreements signed across APAC jurisdictions that changes an industry.
6 key partner relationships across technology and distribution.
20 QR payment methods available for integration.
B BaaS (Banking as a Service) providers engaged.
1 key hardware partner for an SCRP device.

Market

$167 billion as a total addressable market (domestic and card revenue).
$84 billion as a total serviceable market in Asia.
$5 billion as an obtainable market

Problem or Opportunity

Problems for merchants
- Due to onerous onboarding it takes way too much time to get set-up and accept payments
- Slow transaction speeds and settlements
- Due to a lack of transparency merchants get charged hidden fees
- Ineffective communication, service and outdated products

Solution (product or service)

WELCOME TO FIN-PAY! -The world’s first DPO
Fin-pay is a Digital Payment Organization (DPO) that:
- Offers a quick, simple and entirely new onboarding experience
- Is transparent with no hidden fees
- Requires no new physical hardware
- Securely transacts globally in any currency
- Transacts in the shortest possible time

Competitors

There’s a number of incumbent competitors with a high market share in the SMB/Micro-SME** space as well as Financial Institutions (Banks), who are ready for disintermediation by collaborating with a number of emerging competitors, who offer innovative products for merchants.

Advantages or differentiators

Get set-up quickly and accept payments immediately
Give them the service and clear communication they deserve
Get clear on the actual fees and charges
Remove the need for new physical hardware or legacy devices
Accept multiple payment methods and currencies

Finance

MSR (merchant service revenue) - we take a small percentage of each transaction processed via our app.
PSW (professional services revenue) - we charge for customisation or integration with banking or existing platforms such as POS or banking back end infrastructure.
MRR (monthly recurring revenue) - we charge a small SaaS fee per app in the market if used by a bank or financial institution.

Money will be spent on

Expanding user base
Open in new expanding digital payment markets
Expand the engineering team
Increasing revenue

Offer for investor

Equity of 20%

Team or Management

Incubation/Acceleration programs accomplishment

VISA approved partner
BDO accelerator

Won the competition and other awards

- Winner of QLD Entrreprenuer 2020 (start-up category)
- Startup Grind Global Conference in San Francisco 2020
- Finalist in Leadership HQ Awards

Invention/Patent

Australian Innovation Patent

Photos

Photo 1 - Accept payments, anywhere.
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Presentation